Meadowlark Office Park

Transcription

1 Vacant Office Building For more information: Bank owned Excellent for owner/user opportunity/developer Aggressively priced land and office, can be purchased together or separately Located just north of the I-70 and North 57th Street intercahnge (State Avenue and Meadowlark Lane) 17,000 cars-per-day on State Avenue and 6,000 cars-per-day on Meadowlark Lane Don Maddux Aaron Elyachar Michael R. Block, CPM The information contained in this marketing flyer is presented as general information only. Block Real Estate Services, LLC. makes no representation as to its accuracy. This information is not intended as legal, financial or real estate advice and must not be relied upon as such. You should make your own inquiries, obtain independent inspections, and seek professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions.

2 Meadowlark Office Park For more information: Don Maddux Aaron Elyachar Michael R. Block, CPM

3 Property Profile Building Size: Land Size: Zoning: Availability: HVAC System: Asking Price: Office Building Description: 18,814 square feet 90,486 square feet CP-O Immediate - Adjoining land parcel of 6.2 acres also for sale, for $190,000 ($0.63 psf) Roof mounted carrier units $1,100,000 ($58.47 psf) The property consists of a free-standing one-story office building along with undeveloped land adjacent to the north and east. The office building is 18,814 square feet, on 90,486 square feet of land. It is located along with a second office building, a multi-family property and across the street from a Kansas City, Kansas school district athletic facility, with newer residential single-family development to the north. It is the smaller of two office buildings, which were developed at roughly the same time. This location is between State Avenue and Parallel Parkway, the two major east-west thoroughfares in Wyandotte County/Kansas City, Kansas. It is a single-tenant building, as laid out, but could be converted to multi-tenant. There is one loading dock on the southeast corner of the building. Ceiling height under the roof joists is with dropped ceilings throughout and full air-conditioning. There are two restroom core areas with the balance of the space being a series of private offices and large open rooms. The office building is relatively clean, and assuming someone can use the floor plan as currently laid out, would only need carpet and paint. The building was constructed in 1988.

4 Office Sale Comps BUSINESS I (SUBJECT PROPERTY) Address 1223 Meadowlark Ln 1211 N. 8th State Ave 2710 S. 42nd St 2804 S. 44th St State Ave City Kansas City Kansas City Kansas City Kansas City Kansas City Kansas City State KS KS KS KS KS KS Year Built Square Feet 18,814 34,497 6,500 5,700 1,891 3,753 Sales Price $1,100,000 $889,580 $575,000 $550,000 $125,000 $115,136 Price/SF $58.47 $25.79 $88.46 $96.49 $66.10 $30.68 Tenancy Single Single Multiple Single Single Single Sale Date N/A 1/29/2014 5/16/2016 5/10/2016 7/19/2013 6/4/2015 Avg. Price/SF $61.50

5 Office Rental Comps BUSINESS (SUBJECT PROPERTY) PARKWAY PROFESSIONAL BUSINESS BUSINESS BUSINESS BUSINESS UNITY ONE CREDIT UNION Address 1223 Meadowlark Ln 3737 State Ave 8160 Parallel Pkwy 1333 Meadowlark 1333 Meadowlark 1333 Meadowlark 1333 Meadowlark 4150 Kansas 1300 N. 78th St Tenancy Single Multiple Multiple Multiple Multiple Multiple Multiple Multiple Multiple Year Built SF of Building SF Available Percentage Available % 20.91% 16.67% 2.26% 3.89% 3.41% 10.06% 35.00% 11.00% Rent $15.00 $12.00 $10.50 $14.00 $14.00 $14.00 $14.00 $9.00 $17.16 Type of CAM MG NNN Gross FSG MG NNN MG Rent per Year $282, $21, $8, $7, $12, $11, $33, $25, $47, Rent per Month $23, $1, $ $ $1, $ $2, $2, $3, Date of Lease 5/31/2016 1/20/ /16/2008 1/11/ /16/ /28/2009 3/20/2012 1/1/2013 Avg. Rent $13.08

6 Office Floor Plan 1223 & 1301 Meadowlark Lane.indd

7 HD Building two plan 1223 & 1301 Meadowlark Lane.indd

8 Meadowlark Office Park

9 Meadowlark Office Park Site Plan 1223 & 1301 Meadowlark Lane.indd